out-of-pocket expenses

(redirected from Out of Pocket Expense)
Also found in: Financial, Acronyms.

out-of-pocket expenses

n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. They may be recoverable from a defendant in a lawsuit for breach of contract, allowable for reimbursement by trustees, executors or administrators, or deductible by a landlord from a tenant's security deposit for damages beyond normal wear and tear.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
Mentioned in ?